Traders May Cash In On Strong July Gains In Early Trading

[ADVFN]( [[Global Email] World Daily Markets Bulletin]( Tuesday, 01 August 2023 09:22:28 [ADVFN Twitter]( [Monitor]( [Quote]( [Charts]( [News]( [Toplists]( [Boards]( Breaking: Price of Gold & Silver set to EXPLODE in 2023! Read Now... Attention investors and retirement savers...Investment experts and even mainstream news publications are predicting a windfall for gold and silver prices in 2023! This could be the year we see the value of precious metals like gold and silver EXPLODE! You won't want to miss out! [Reserve Your FREE Gold & Silver Kit Today!]( --------------------------------------------------------------- US Market Bitcoin [Bitcoin]( DAX [DAX]( Dow Jones [Dow Jones]( Nasdaq [Nasdaq]( The major U.S. index futures are currently pointing to a lower open on Tuesday, with stocks likely to move back to the downside after ending yesterday?s lackluster session modestly higher. Profit taking may contribute to initial weakness on Wall Street, as some traders look to cash in on the strong gains posted in July. The tech-heavy Nasdaq soared by 4.1 percent for July, while the Dow and the S&P 500 jumped by 3.1 percent and 3.4 percent, respectively. Early trading may also be impacted by reaction to quarterly results from drug giants Merck (MRK) and Pfizer (PFE) as well as ride-hailing giant Uber (UBER). Overall trading activity may remain somewhat subdued, however, as traders continue to look ahead to Friday?s closely watched monthly jobs report. Stocks showed a lack of direction throughout the trading session on Monday, with the major averages spending the day bouncing back and forth across the unchanged line after last Friday's trading firmly in positive territory. The major averages moved to the upside going into the close, ending the day modestly higher. The Dow rose 100.24 points or 0.3 percent to 35,559.53, the Nasdaq crept up 29.37 points or 0.2 percent to 14,346.02 and the S&P 500 inched up 6.73 points or 0.2 percent to 4,588.96. Traders seemed reluctant to make significant moves as they await the release of key economic data in the coming days, including the closely watched monthly jobs report on Friday. Reports on initial jobless claims, factory orders and manufacturing and service sector activity could also impact trading. With the Federal Reserve indicating future interest rate decisions, upcoming economic data may attract more attention than usual. "Many traders won't do much positioning until Friday's NFP report, which should show the labor market remains tight," said Edward Moya, senior market analyst at OANDA. "The key for the payroll report might be what is happening with wages, as it seems fears of an acceleration of inflation have been downsized." He added, "This week also includes the ISM reports which should show manufacturing activity is picking up and the service sector is cooling." In U.S. economic news, MNI Indicators released a report showing Chicago-area business activity contracted at a slightly slower rate in the month of July. MNI Indicators said its Chicago business barometer inched up to 42.8 in July from 41.5 in June, although a reading below 50 still indicates a contraction. Economists had expected the index to rise to 43.0. Most of the major sectors showed only modest moves on the day, contributing to the lackluster close by the broader markets. Energy stocks saw considerable strength, however, with a sharp increase by the price of crude oil contributing to the strength in the sector. With crude for September delivery jumping $1.22 to $81.80 a barrel, the Philadelphia Oil Service Index surged by 2.1 percent and the NYSE Arca Oil Index jumped by 1.6 percent. An increase by the price of gold also contributed to strength among gold stocks, as reflected by the 2.0 percent gain posted by the NYSE Arca Gold Bugs Index. --------------------------------------------------------------- Do you day trade? Trader Alerts streams stocks reaching new highs and lows as well as stocks breaking out of previous volume highs as they happen. It's a powerful tool for day trading ideas. [Learn More / Upgrade]( --------------------------------------------------------------- U.S. Economic Reports CADUSD [CADUSD]( Oil [Oil]( Gold [Gold]( EURUSD [EURUSD]( The Institute for Supply Management is scheduled to release its report on manufacturing activity in the month of July at 10 am ET. The ISM?s manufacturing PMI is expected to inch up to 46.8 in July from 46.0 in June, although a reading below 50 would still indicate contraction. Also at 10 am ET, the Commerce Department is due to release its report on construction spending in the month of June. Construction spending is expected to rise by 0.6 percent in June after climbing by 0.9 percent in May. The Labor Department is also scheduled to release its report on job openings in the month of June at 10 am ET. Job openings are expected to dip to 9.6 million in June from 9.8 million in May. --------------------------------------------------------------- [3 Tiny Stocks Primed to Explode]( The world's greatest investor ? Warren Buffett ? has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential. We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns. [Click here for full details and to join for free.]( --------------------------------------------------------------- Stocks in Focus Shares of ZoomInfo (ZI) are moving sharply lower in pre-market trading after the software and data company reported better than expected second quarter earnings but weaker than expected revenues and provided disappointing revenue guidance for the current quarter. Financial technology company Sofi (SOFI) may also move to the downside after KBW downgraded its rating on the company?s stock to Underperform from Market Perform. Meanwhile, shares of Arista Networks (ANET) are seeing significant pre-market strength after the networking company reported second quarter results that beat analyst estimates on both the top and bottom lines. Apparel retailer Gap (GPS) may also move to the upside after Barclays upgraded its rating on the company?s stock to Overweight from Equal Weight. --------------------------------------------------------------- [Sell every Stock except ONE]( Markets are down... But Jeff Clark couldn't care less because he ignores almost every stock in the market except ONE. He lives financially free trading this One Stock Once per month... [Ticker Revealed.]( --------------------------------------------------------------- Europe European stocks have moved mostly lower on Tuesday as weak manufacturing PMI data from Asia and Europe revived growth worries. The HCOB Eurozone Manufacturing PMI fell to 42.7 in July from 43.4 in the previous month, marking the lowest in three years. U.K. factory output fell at the fastest pace in seven months in July, hit by higher interest rates, while British retail sales fell in July at the fastest rate since April 2022, separate reports showed. The German unemployment rate unexpectedly fell in July, while the euro area unemployment rate held steady at 6.4 percent in June versus the 6.5 percent expected. While the U.K.?s FTSE 100 Index has dipped by 0.2 percent, the French CAC 40 Index and the German DAX Index are both down by 0.8 percent. JD Sports Fashion has fallen after an investigation by the U.K.'s Competition and Markets Authority (CMA) confirmed that JD Sports and Leicester City Football Club broke competition law. DHL owner Deutsche Post has also moved sharply lower after reporting a decrease in second quarter earnings and revenue. Commercial vehicle manufacturer Daimler Truck Holding has also slumped after incoming orders dropped in the second quarter. On the other hand, British lender HSBC Holdings has moved to the upside after raising its key performance target. Energy giant BP Plc has also risen after increasing its dividend, while pizza group Domino's has jumped on share buyback news. TeamViewer has also surged after the software company reported strong earnings for the second quarter, thanks to higher revenue and lower financial costs. --------------------------------------------------------------- Do you have a full view of the market? Level 2 lets you see all of the orders to buy and sell shares, allowing you to see what is really going on in the market. If you don?t have this in your trading toolkit, you?re at a serious disadvantage. [Learn More / Upgrade]( --------------------------------------------------------------- Asia USDCAD [USDCAD]( USDEUR [USDEUR]( USDGBP [USDGBP]( USDJPY [USDJPY]( Asian stocks ended mixed on Tuesday as Chinese data disappointed and investors looked ahead to a slew of U.S. economic data this week for additional clues on the interest rate outlook. The dollar edged up against most major currencies, sending oil and gold prices lower in Asian trading. Chinese stocks edge lower after a private survey showed factory activity in the country contracted in July, missing expectations for a small expansion. A separate report revealed that average new home prices in 100 Chinese cities fell for a third consecutive month in July. China's Shanghai Composite Index fluctuated before finishing marginally lower at 3,290.95. Hong Kong's Hang Seng Index dropped 0.3 percent to 20,011.12 after Country Garden scrapped its share placement deal, raising fresh concerns about the health of the property sector. Japanese shares advanced as the yen slipped to a three-week low following the BOJ's decision last week to tweak its yield control curve policy. The Nikkei 225 Index jumped 0.9 percent to 33,476.58, reaching its highest level since July 3. The broader Topix Index hit its highest level in around 33 years, climbing 0.6 percent to 2,337.36. Honda Motor, Mazda Motor and Nissan Motor surged 2-4 percent amid the yen's slide. Toyota Motor jumped 2.5 percent after the automaker said its first-quarter net profit spike 78 percent from a year earlier. Japanese factory activity contracted at a faster pace in July, while the unemployment rate fell for the first time in two months in June, separate reports showed today. Seoul stocks rallied to end higher for the fourth day running, with tech and auto shares pacing the gainers. The Kospi Average settled 1.3 percent higher at 2,667.07. SK Hynix, Samsung Electronics and Hyundai Motor rose 1-2 percent. Investors shrugged off survey results from S&P Global showing that South Korean factory activity contracted for a 13th straight month. Australian markets closed higher after the Reserve Bank held rates for a second consecutive month, saying past increases were working to cool demand. The benchmark S&P/ASX 200 Index rose 0.5 percent to 7,450.70, led by resource stocks. The broader All Ordinaries Index gained 0.5 percent to close at 7,663.70. TPG Telecom shares soared 11.6 percent after the telecom company received an offer from Macquarie-backed rival Vocus Group to buy its non-mobile fiber assets for A$6.3 billion. A survey showed earlier in the day that activity in Australia's manufacturing sector remained in a downturn in July. --------------------------------------------------------------- Do you day trade? Trader Alerts streams stocks reaching new highs and lows as well as stocks breaking out of previous volume highs as they happen. It's a powerful tool for day trading ideas. [Learn More / Upgrade]( --------------------------------------------------------------- Commodities Crude oil futures are falling $0.50 to $81.30 a barrel after jumping $1.22 to $81.80 a barrel on Monday. Meanwhile, after rising $9.30 to $2,009.20 an ounce in the previous session, gold futures are slumping $19.70 to $1,989.50 an ounce. On the currency front, the U.S. dollar is trading at 143.12 yen compared to the 142.29 yen it fetched at the close of New York trading on Monday. Against the euro, the dollar is valued at $1.0957 compared to yesterday?s $1.0997. --------------------------------------------------------------- To unsubscribe from this news bulletin or edit your mailing list settings click [here](. Registered Office/Accounts Dept: Suite 27, Essex Technology Centre, The Gable, Fyfield Road, Ongar, CM5 0GA. Customer Support +1 888-992-3836. Company registered in England and Wales: Number 2374988 VAT No. GB 549 2130 49